TrueCar co-founder Scott Painter will return to the CEO position he left in 2015 after leading an effort to acquire the company in a $227 million all-cash deal with Fair Holdings Inc.

“Our decision to acquire TrueCar is driven by the strength of its network of 8,500 franchised and independent dealers, many of whom are among the most forward-thinking in the country. These are dealers who know how to leverage technology, upfront pricing and customer trust to serve buyers,” writes Painter in a press release.

The Painter-led Fair Holdings’ purchase price works out to $2.55 per ownership share for the publicly traded — but soon to be privately owned — TrueCar. The company was founded in 2005 and launched in 2008, promising real-time, market-based pricing insights for consumers and pre-sold new and used car leads for dealers.

The release hinted at plans to create a more holistic platform to cover multiple facets of the vehicle shopping, buying and ownership experience.

“The Syndicate that we are assembling would combine the best of the retail automotive, finance and technology worlds,” Painter writes. “Together, we intend to bring capital, operating expertise and a shared conviction in TrueCar’s future as a trusted platform that serves both consumers and dealers with fairness and transparency.”

Read more at TrueCar